Latest news with #mineralwealth
Arab News
16-07-2025
- Business
- Arab News
Egypt's mineral revenues rise 131% to $446m on strong gold output, says minister
RIYADH: Egypt's revenues from mineral wealth development jumped 131 percent year on year to nearly $446 million in fiscal year 2024/2025, driven by strong growth in gold and silver production. Speaking at the Egypt Mining Forum 2025, Minister of Petroleum and Mineral Resources Karim Badawi said, gold and silver output reached 640,000 ounces during the year, a 14 percent increase from the previous period, generating $1.54 billion in sales, up 57 percent annually. The gains were attributed to higher production volumes and stronger export performance, according to his statement on Facebook. Egypt's mining sector is undergoing a major transformation under the Vision 2030 agenda, as the government seeks to position the country as a regional hub for mineral exploration while boosting its gross domestic product contribution through sustainable and environmentally responsible practices. 'Egypt is a nation distinguished by its unparalleled strategic location and expansive infrastructure. Our rich legacy of mineral resources includes gold, copper, silver, zinc, platinum, as well as a diverse range of other precious and base metals,' Badawi said. He added: 'These enormous potentials are backed by the Egyptian government's economic reform program, aimed to achieve economic stability, attract investments, and enhance market attractiveness, thus contributing to strengthening Egypt's position as a distinctive and exceptional destination for international investors and placing it on the global mining investment map, in line with the Sustainable Development Strategy.' According to the minister, ore and mineral production rose to 26 million tonnes, marking a 39 percent increase from the previous year. Egypt also exported 1.4 million tonnes of ores and mining products in 2024/2025, generating $52.5 million in export revenues. During the forum, the ministry signed two agreements with major international mining companies to boost exploration efforts. One licensing contract was signed with Centamin Central, a subsidiary of South African-based AngloGold Ashanti, for the exploration of gold and associated minerals, according to Egypt's State Information Service. The second agreement, signed with Canada-based mining giant Barrick, aims to pave the way for expanded collaboration and exploration activities in the country. 'This step clearly demonstrates the strong desire of international companies to expand their investments in the Egyptian mining sector, which serves as global proof of major international companies' confidence in Egypt's investment climate, reflecting the success of the state's policy in attracting foreign investments,' Badawi said.
Al Jazeera
14-07-2025
- Politics
- Al Jazeera
Trump's push for peace in the DRC
Peace agreement between the DRC and Rwanda is staggering in its ambition. A peace deal has been signed – again – between the Democratic Republic of the Congo and Rwanda, this time in Washington DC, with president Donald Trump watching closely. But can it succeed where others have failed? And is it designed to save lives or to exploit the DRC's mineral wealth?
Zawya
30-06-2025
- Business
- Zawya
Egypt signs $658mln construction deal for phosphoric acid project
Egypt has signed final contracts that will pave way the commencement of construction works on the $658 million Phosphoric Acid Complex Project in the Western Desert. This marks a major step in Egypt's push to shift from raw mineral exports to high-value industrial processing, the Petroleum and Mineral Resources Ministry said. The project is located at Abu Tartur Plateau in the New Valley Governorate and will use domestically sourced phosphate ore to produce 250,000 tonnes per year of high-grade phosphoric acid in its first phase. 'This is a historic move that will enable us to shift from exporting raw materials to launching an integrated industrial value chain,' Petroleum and Mineral Resources Minister Karim Badawy said 'It symbolises the third pillar of our strategy which outlines maximising returns from mineral wealth,' he added. The deal was signed with a Chinese consortium that comprises of China State Construction Engineering Corporation (CSCEC) and East China Engineering Science and Technology Co. (ECEC). According to Valley Governor Mohammed El-Zamlout, the project is a 'turning point' for the New Valley which is Egypt's largest governorate by area but has been overlooked in terms of industrial development. 'This project will be a key aspect in transforming the region into a strategic hub for mining-based industries,' he said. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Yahoo
28-06-2025
- Business
- Yahoo
Congo and Rwanda Sign U.S.-Brokered Peace Deal With Trump in DC
The Democratic Republic of Congo and Rwanda signed a peace agreement aiming to end the conflict and open a shared stretch of East African mineral wealth to U.S. investment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
25-06-2025
- Business
- Zawya
Chad's Secretary of State for Petroleum, Mines and Geology Joins African Mining Week (AMW) 2025
Khadidja Hassane Abdoulaye, Secretary of State for Petroleum, Mines and Geology at Chad's Ministry of Mines and Geology, has joined the upcoming African Mining Week conference as a speaker. Taking place from October 1-3, 2025, in Cape Town, the event is the continent's premier event for mining stakeholders. Abdoulaye's participation will be instrumental in spotlighting Chad's vast mineral wealth, while connecting global mining stakeholders with emerging prospects in the Central African country. During African Mining Week 2025, Abdoulaye will take part in high-level panel discussions, exclusive networking opportunities and targeted investment forums, promoting Chad's mineral potential and secure strategic partnerships that will drive the country's mining industry forward. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ Chad is home to significant but underexplored mineral resources, including natron - used in soap and medicine production - gold, uranium, bauxite, base metals and granite. While mining is largely occupied by artisanal operations, geological mapping and seismic surveys are currently underway to better understand the country's mineral potential and unlock large-scale mining prospects. The Tibesti and Ouaddaï regions are rich in basement rock essential for the construction industry, while Tibesti also holds deposits of tungsten, tin, niobium and tantalum. Gold production, particularly in the Mayo-Kebbi region, is also currently dominated by small-scale mining operations. To attract investment and foster international collaboration, Chad has enacted a series of policies and programs focused on modernizing its mining sector. In August 2024, Chad's Ministry of Petroleum, Mines and Geology held discussions with Libya's National Mining Corporation to explore cooperation opportunities in investment, project development, knowledge exchange and capacity building. With commercial-scale mineral reserves believed to lie along the Libyan-Chadian border in the Tibesti region, this partnership could play a pivotal role in unlocking the area's full resource potential. As Chad expands exploration projects, African Mining Week presents an ideal platform for Abdoulaye to engage with prospective investors and technology providers. Distributed by APO Group on behalf of Energy Capital&Power.
